Opening of domestic and foreign
bank accounts

No present-day business can do without a bank account. However, setting up an account in a foreign jurisdiction might be a challenging task today.

As part of their anti-terrorism and anti-money laundering efforts, banks have implemented a variety of conditions and procedures applicable to all potential customers (known as KYC and AML procedures). This means a complete disclosure of business structure and of the incomes and cash flows available etc.

Prior to opening an bank account for you, we will choose a suitable jurisdiction proceeding from your company’s business profile, turnovers and a number of other factors, including:

• bank charges;
• services available to non-residents;
• incoming and outgoing payment currency;
• the bank’s capacity to offer online acquiring etc.

Customers often appreciate the option of setting up an account remotely when selecting the country of the account. We have been processing such requests for a long time now and will be happy to help you with this.

SBSB has a large partner network of banks and licensed payment institutions. We know which banks are better and more cost-efficient to work with, and which ones are not worth getting involved with.

With SBSB experts at hand, you may rest assured: we will choose the most suitable jurisdiction and banks for your account, with consideration for all the specifics of your business.